Bitcoin thrives despite all the differences

Since it’s currently in vogue, I’d like to announce that I’m launching my own cryptocurrency next week.

Let’s call it “kingcoin”.

No, that’s too useful.

How about “muttcoin”? I always had a mild place for mixed breeds.

Yes, that’s perfect – everyone loves dogs.

This is going to be the biggest thing about fidgeting.

Congratulations! Anyone who reads this will get one muttcoin when my new coin rolls out next week.

I will share a million muttcoins evenly. Feel free to spend them wherever you want (or wherever someone accepts them!).

What is it? The cashier at Target said she wouldn’t accept our mutcoins?

Tell those who suspect that muttcoin has a scarcity value – there will only be a million muttcoins. On top of that, it is backed by the full faith and merit of 8 GB of RAM on my desktop computer.

Also, remind them that ten years ago bitcoin couldn’t even buy you a pack of chewing gum. Now one bitcoin can buy a lifetime stock.

And like bitcoin, you can keep muttcoin safely offline, away from hackers and thieves.

It is basically an exact replica of the properties of bitcoin. Muttcoin has a decentralized book with cryptography that is impossible to break and all transactions are immutable.

Still not convinced that our muttcoins will be worth billions in the future?

Well, that’s understandable. The fact is that launching a new cryptocurrency is much harder than it seems, if not completely impossible.

That is why I believe that bitcoin has reached these heights regardless of all chances. And because of its unique user network, it will continue to do so.

Certainly, there was a failure. But each of these failures ultimately resulted in higher prices. Not even the recent 60% drop will be any different.

A miracle of Bitcoin

Bitcoin’s success lies in its ability to create a global network of users who are either willing to make transactions with it now or store them for later. Future prices will be determined by the growth rate of the network.

Even faced with wild price changes, bitcoin adoption continues to grow at an exponential rate. Now, 23 million wallets have been opened worldwide, haunting 21 million bitcoins. In a few years, the number of wallets could grow to include 5 billion people on the planet connected to the Internet.

Sometimes the motivation of new crypto converters was speculative; the second time they sought a storehouse of value away from their own domestic currency. In the last year, new applications like Coinbase have made it even easier for new users to enter.

If you haven’t noticed, when people buy bitcoin, they talk about it. We all have that friend who bought bitcoin and then he wouldn’t keep quiet about it. Yes, I’m guilty of this – and I’m sure there are plenty of readers.

Perhaps subconsciously, owners become crypto-evangelists because convincing others to buy serves their own interest in increasing the value of their possessions.

The evangelization of bitcoin – spreading the good word – is what has miraculously led to a price increase of $ 0.001 to a recent price of $ 10,000.

Who could have imagined that his pseudonym, saturated with the global banking oligopoly, triggered an intangible digital resource that had been a rival to the values ​​of the world’s largest currencies for less than a decade?

No religion, political movement or technology has ever witnessed these growth rates. So again, humanity has never been so connected.

The idea of ​​money

Bitcoin started as an idea. To be clear, all the money – whether it was shell money used by primitive Islanders, a piece of gold or the US dollar – started as an idea. The idea is that the network users value equally and would be willing to share with something of equal value for your form of money.

Money has no intrinsic value; its value is purely external – only what others think it is worth.

Look at the dollar in your pocket – it’s just a fancy piece of paper with a one-eyed pyramid, a spotted portrait and the signatures of important people.

To be useful, society must view it as a unit of account, and merchants must be willing to accept it as payment for goods and services.

Bitcoin has shown an unusual ability to reach and connect to a network of millions of users.

One bitcoin is only worth as much as the next person is willing to pay for it. But if the network continues to expand exponentially, the limited supply claims that prices can only move in one direction … more.

The bottom line

The nine-year rise of Bitcoin has been marked by huge bursts of instability. In January 2015, there was a correction of 85%, and several others over 60%, including a colossal decrease of 93% in 2011.

Through each of these corrections, however, the network (measured by the number of wallets) continued to expand rapidly. As some speculators saw their value decimated, so new margin investors saw value and became buyers.

Abnormal levels of volatility are actually what helped the bitcoin network grow to 23 million users.

Hey, maybe we just need price volatility in muttcoin to attract new users …

Acceptance and instability – are they related?

Governments and institutions around the world are increasingly paying attention to cryptocurrencies (CC) and the technology that supports them all – Blockchain. Part of the attention is negative, but in the end it is clear that more and more attention is positive, supportive and exploitative. As the business and investment worlds become more aware that they have a disruptive force in their environment, it becomes imperative to examine business processes at this new frontier and compare them to the relatively old, slow, and expensive processes they have now. New technologies need new investment capital to grow, and with such growth come incentives, false movements and controversies.

Events in the CC and Blockchain worlds are fast and furious, with governments and institutions making efforts to harness technology, tax all profits, protect their investments and protect their constituents and customers – a complex balancing act that goes a long way in explaining why it makes many go in different directions and often change direction. Here are some recent developments that serve as an illustration that CC and Blockchain are gradually being accepted in the mainstream, but are still struggling with regulation, control and stability:

  • Uzbekistan will announce its plans to regulate Bitcoin in September 2018, with the Blockchain “skills center” due to start operating in July.
  • Kazakhstan has signaled its desire to copy Singapore’s Blockchain license.
  • Belarus has announced that it wants to create a hospitable environment for Blockchain, as an innovative financial transaction technology.
  • Venezuela has created “PETRO,” a CC created to raise cash as Venezuela approaches economic collapse. He hopes it will be a way to circumvent sanctions that prevent Venezuela from raising money in global bond markets. President Nicolas Maduro claims that PETRO raised $ 735 million on the first day, an unsubstantiated claim. Maduro sees in PETRO “the perfect kryptonite for the defeat of SUPERMAN” – which is his analogy of American sanctions, thinking that this currency frees his country from the grip of banks and governments. He may not see that PETRO was initiated by the government – his.
  • TD Canada Trust became the first Canadian bank to join some British and American banks in banning the use of credit cards to purchase CC.
  • South Korea is moving towards legalizing Bitcoin, which indicates that it will consider Bitcoin as a liquid asset. Since South Korea is at the forefront of the CC market, the impact of their decisions will be significant and global. Japan has already taken these steps, making bitcoin trading more transparent, regulated and 100% legal.
  • BlackRock, the world’s largest investment company, continues the bull’s forecast for CC, saying that it sees “wider use” in the future.
  • Romeo Lacher, chairman of the Swiss stock exchange, believes there are a lot of good sides in issuing a crypto version of the Swiss franc, and his organization would be supportive, adding that he “doesn’t like cash”.
  • China’s largest online retailer of brick and mortar JD.com has announced the first four launches of its Al Catapult Blockchain incubation program. The Beijing-based program, which has seen candidates even from Australia and the UK, aims to use the company’s vast Chinese infrastructure to develop new blockchain and artificial intelligence applications.

With all the global activity back and forth, it is clear that Blockchain is a disruptive technology of this era, and CCs are just an aspect of the capabilities provided. Just like the explosion of internet investment in the 90s, the investments of Blockchain and CC will have winners and losers, however, we do not want this to turn into a huge bubble that destructively burst with many early DOT COM investments in the 90s. What we want to see is a well-reasoned approach to Blockchain development and investment.

Instability will be the norm in this market space for some time to come, as we see increasing acceptance, innovation and regulation. There will be failures and there will be successes that force governments, institutions, investors and innovators to constantly adjust their processes and their thinking. Volatility is normal and healthy at this stage.

Is cryptocurrency the future of money?

What will the future of money look like? Imagine walking into a restaurant and looking at your digital menu board of your favorite combined meal. Only, instead of costing $ 8.99, it is shown as 009 BTC.

Can cryptocurrency really be the future of money? The answer to that question depends on the overall consensus on several key decisions, from ease of use to safety and regulation.

Let’s examine both sides of the (digital) coin and compare and contrast traditional fiat money with cryptocurrency.

The first and most important component is trust.

It is imperative that people trust the currency they use. What gives the dollar value? Is it gold? No, the dollar has not been supported by gold since the 1970s. What, then, is what gives value to the dollar (or any other fiat currency)? The currency of some countries is considered more stable than others. Ultimately, people’s trust is that the government that issues that money stands firmly behind it and basically guarantees its “value”.

How does trust work with Bitcoin because it is decentralized, which means they are not the governing body that issues coins? Bitcoin sits on a blockchain that is basically an online ledger that allows the whole world to see every transaction. Each of these transactions is checked by miners (people who work on computers on a peer-to-peer network) to prevent fraud and ensure there is no double spending. In exchange for their blockchain integrity maintenance services, miners receive payment for each transaction they verify. Since there are countless miners trying to make money, each checks to see if others are making mistakes. This workflow proof is why the blockchain was never hacked. Basically, this trust is what gives Bitcoin value.

Next, let’s look at the closest trust, security.

What do you say if my bank is robbed or if there is a fraud on my credit card? My bank deposits are covered by FDIC insurance. It is very likely that my bank will cancel all charges on my card that I have never made. This does not mean that criminals will not be able to report stunts that are frustrating and lengthy to say the least. It is more or less peace of mind that comes from knowing that I will most likely be healed from any wrongdoing against me.

In crypto, there are a lot of choices when it comes to a place to store money. It is important to know if the transactions are insured for your protection. There are reputable exchanges such as Binance and Coinbase that have proven results in correcting injustices for their clients. Just as there are fewer than reputable banks in the whole world, the same is true for crypto.

What happens if I throw a twenty-dollar bill into the fire? The same goes for crypto. If I lose my credentials to sign up for a particular digital wallet or exchange, then I will not be able to have access to those coins. Again, I can’t stress enough the importance of doing business with a reputable company.

The next release is scaling. At the moment, this is perhaps the biggest obstacle that prevents people from conducting multiple transactions on the blockchain. In terms of transaction speed, fiat money moves much faster than crypto. Visa can process about 40,000 transactions per second. Under normal circumstances, a blockchain can only handle about 10 per second. However, a new protocol is being adopted that will increase up to 60,000 transactions per second. Known as the Lightning Network, it could result in the creation of the crypto future of the future of money.

The conversation would not be complete without the convenience talk. What do people usually like about their traditional methods of banking and spending? For those who prefer cash, it is obviously easy to use most of the time. If you are trying to book a hotel room or car rental, you need a credit card. I personally use my credit card wherever I am for convenience, security and rewards.

Did you know that there are companies out there that provide all of this in the crypto space as well? Monaco now issues Visa logo cards that automatically convert your digital currency into local currency.

If you have ever tried to associate money with someone, you know that this process can be very tedious and expensive. Blockchain transactions allow the user to send a cryptocurrency to anyone in just a few minutes, no matter where they live. It is also significantly cheaper and safer than sending to a bank bank.

There are other modern methods of money transfer that exist in both worlds. Take for example apps like Zelle, Venmo and Messenger Pay. These applications are used by millions of millennials every day. Did you also know that they are starting to include crypto?

The Square Cash app now includes Bitcoin, and CEO Jack Dorsey said, “Bitcoin doesn’t stop at us buying and selling. We believe this is a transformation technology for our industry and we want to learn as quickly as possible.”

He added, “Bitcoin offers an opportunity for more people to gain access to the financial system.”

While it is clear that fiat consumption still dominates the way most of us move money, the emerging crypto system is rapidly gaining ground. Evidence is everywhere. Prior to 2017, it was difficult to find regular media reports. Now almost every big business news is covered by Bitcoin. From Forbes to Fidelity, everyone weighs their opinions.

What is my opinion? Perhaps the biggest reason Bitcoin could succeed is because it is fair, inclusive, and provides financial access to more people around the world. Banks and large institutions see this as a threat to their very existence. They seem to be at a loss for the greatest wealth transfer the world has ever seen.

Still haven’t decided? Ask yourself this question: “Do people trust governments and banks more or less every day?”

Your answer to that question could be what determines the future of money.

The basics of cryptocurrency and the way it works

In the times we live in, technology has made incredible advances compared to any time in the past. This evolution has redefined human life in almost every aspect. In fact, this evolution is a continuous process and therefore human life on earth is constantly improving day by day. One of the latest inclusions in this aspect is cryptocurrencies.

Cryptocurrency is nothing but a digital currency designed to impose security and anonymity in online money transactions. It uses cryptographic encryption to generate currency as well as to verify transactions. New coins are created by a process called mining, while transactions are recorded in a public ledger, called a chain of transaction blocks.

A little comeback

The evolution of cryptocurrency is largely attributed to the virtual world of the Web and involves the process of converting readable information into code, which is almost impossible. Therefore, it becomes easier to track purchases and transfers that involve currency. Cryptography, since its introduction in World War II to ensure communication, has evolved into this digital age, merging with mathematical theories and computing. Therefore, it is now used to protect not only communication and information, but also money transfers via a virtual network.

How to use cryptocurrency

It is very easy for ordinary people to use this digital currency. Just follow the steps given below:

  • You need a digital wallet (obviously, to store currency)
  • Use your wallet to create unique public addresses (this allows you to receive currency)
  • Use public addresses to transfer funds to or from your wallet

Cryptocurrency wallets

A cryptocurrency wallet is nothing more than a software program that can store both a private and a public key. In addition, it can also interact with various blockchains so that users can send and receive digital currencies and also track their balance.

How digital wallets work

Unlike conventional wallets that we carry in our pockets, digital wallets do not store money. In fact, the concept of blockchain is so cleverly blended with cryptocurrency that currencies are never stored in a particular location. Nor do they exist anywhere in cash or in physical form. Only records of your transactions and nothing else are stored in the blockchain.

A real life example

Suppose a friend sends you digital currency, say in the form of bitcoin. What this friend is doing is transferring ownership of the coins to your wallet address. Now, when you want to use that money, you unlock the fund.

To unlock the fund, you must pair the private key in the wallet with the public address to which the coins were assigned. Only when these private and public addresses match will your account be assigned and the balance in your wallet will increase. At the same time, the condition of digital currency senders will decrease. In digital currency-related transactions, the actual exchange of physical coins never occurs in either case.

Understanding cryptocurrency addresses

By nature, it is a public address with a unique string of characters. This allows the user or owner of a digital wallet to receive cryptocurrency from others. Each public address generated has a corresponding private address. This automatic match proves or establishes ownership of the public address. As a more practical analogy, you can consider a public cryptocurrency address as your email address to which others can send email. Emails are the currency that people send you.

Understanding the latest version of cryptocurrency technology is not difficult. It takes a little interest and spending time online to clarify the basics.

Which cryptocurrencies are good to invest in?

This year, the value of Bitcoin has risen, even after one ounce of gold. There are also new cryptocurrencies on the market, which is even more surprising that it brings cryptocurrencies worth more than one hundred billion. On the other hand, the longer-term outlook for cryptocurrencies is somewhat blurred. There is disagreement due to the lack of progress among major developers, which makes it less attractive as a long-term investment and as a payment system.

Bitcoin

Still the most popular, Bitcoin is the cryptocurrency that started it all. It is currently the largest market cap with about $ 41 billion and has existed for the past 8 years. Bitcoin is widely used around the world and so far it is not easy to exploit weaknesses in the way it works. Both as a payment system and as a stored value, Bitcoin allows users to easily receive and send bitcoin. The blockchain concept is the foundation on which Bitcoin is based. You need to understand the blockchain concept to get an idea of ​​what cryptocurrencies are all about.

Simply put, a blockchain is a database distribution that stores each network transaction as a block of data called a “block”. Every user has blockchain copies so when Alice Marku sends 1 bitcoin, every person online knows it.

Litecoin

One of the alternatives to Bitcoin, Litecoin is trying to address many of the issues that keep Bitcoin. It’s not quite as resilient as Ethereum with its value stemming mostly from the adoption of solid users. It is worth noting that Charlie Lee, a former Googler, runs Litecoin. He also exercises transparency of what he does with Litecoin and is quite active on Twitter.

Litecoin has been Bitcoin’s second fiddle for a while, but things started to change in early 2017. Litecoin first adopted Coinbase along with Ethereum and Bitcoin. Further, Litecoin fixed the Bitcoin problem by adopting separate witness technology. This gave him the capacity to reduce transaction costs and do more. The deciding factor, however, was when Charlie Lee decided to focus his only focus on Litecoin and even left Coinbase, where he was director of engineering, for Litecoin only. As a result, the price of Litecoin has risen in recent months, and its strongest factor was the fact that it could be a real alternative to Bitcoin.

Ethereum

Vitalik Buterin, a superstar programmer, came up with Ethereum, which can do everything Bitcoin can do. However, its purpose is primarily to be a platform for building decentralized applications. There are differences between the two in the blocks. Basically, a Bitcoin blockchain records a contract type, which specifies whether funds have been moved from one digital address to another. However, there is a significant expansion with Ethereum because it has a more advanced language script and a more complex, wider range of applications.

Projects began to emerge at the top of Ethereum when developers began to notice its better qualities. Through symbolic sales, some have even raised dollars in the millions, and this is still a continuing trend to this day. The fact that you can build wonderful things on the Ethereum platform makes it almost similar to the internet itself. This caused a price jump, so if you bought a hundred dollars worth of Ethereum earlier this year, it wouldn’t be estimated at nearly $ 3,000.

Money

Monero strives to solve the problem of anonymous transactions. Even if this currency was considered a money laundering method, Monero wants to change that. Basically, the difference between Monera and Bitcoin is that Bitcoin contains a transparent blockchain with every transaction public and recorded. With Bitcoin, anyone can see how and where the money is moved. However, there is a somewhat imperfect anonymity of Bitcoin. In contrast, Monero has an opaque rather than a transparent method of transaction. No one is sold by this method, but since some people like privacy for any purpose, Monero is here to stay.

Zcash

Unlike Monera, Zcash also wants to solve the problems that Bitcoin has. The difference is that Monero, instead of being completely transparent, is only partially public in its blockchain style. Zcash also aims to address the issue of anonymous transactions. After all, no person likes to show how much money they actually spent on Star Wars memorabilia. So, the conclusion is that this type of cryptocoin really has an audience and demand, although it is difficult to point out which cryptocurrency that focuses on privacy will eventually come out on top.

Bancor

Also known as a “smart token”, Bancor is a new generation cryptocurrency standard that can hold more than one token in reserve. Basically, Bancor seeks to facilitate the trading, management and creation of tokens by increasing their level of liquidity and enabling automatic market pricing. Currently, Bancor has a product on the front that includes a wallet and creating a smart token. There are also functions in the community such as statistics, profiles and discussions. In short, the Bancor protocol enables the detection of the embedded price as well as the liquidity mechanism of smart contract tokens through the innovative reserve mechanism. Through a smart contract you can instantly liquidate or buy any token from the Bancor reserve. With Bancor, you can easily create new cryptocurrencies. Now who wouldn’t want that?

EOS

Another Ethereum competitor, EOS, promises to solve the problem of scaling Ethereum by providing a set of tools that are more robust for running and creating applications on the platform.

Theses

An alternative to Ethereum, Tezos can be upgraded by agreement without too much effort. This new blockchain is decentralized in the sense that it is self-governing by establishing a digital true community. It provides a mathematical technique called formal verification and has features to increase the security of the most financially important, sensitive smart contracts. Definitely a big investment in the coming months.

Verdict

It’s incredibly hard to predict which Bitcoin will become the next superstar on the list. However, user adoption has always been one of the key success factors when it comes to cryptocurrencies. Both Ethereum and Bitcoin have this, and even if there is strong support from early adopters of each cryptocurrency on the list, some have not yet proven their consistency. However, they should be invested in and monitored in the coming months.

Crypto TREND – second edition

In the first issue of CRYPTO TREND, we introduced cryptocurrency (CC) and answered several questions about this new market space. There is a lot of NEWS in this market every day. Here are some highlights that give us an insight into how new and exciting this market space is:

The world’s largest futures exchange to create futures contracts for Bitcoin

Terry Duffy, president of the Chicago Mercantile Exchange (CME), said: “I think sometime in the second week of December you will see our [bitcoin futures] listing agreement. You can’t cut bitcoin today, so there’s only one way it can go. Either buy it or sell it to someone else. So you create a two-way market, I think it’s always much more efficient. “

CME intends to launch Bitcoin futures by the end of the year pending regulatory review. If successful, it will provide investors with a sustainable way to go for Bitcoin. Some stock market vendors have also reported bitcoin ETFs that track bitcoin futures.

These events can allow people to invest in cryptocurrency space without owning CC or using CC exchange services. Bitcoin futures could make digital assets more useful by enabling users and intermediaries to hedge against their foreign exchange risks. This could increase the adoption of cryptocurrency by traders who want to accept bitcoin payments but are wary of its volatile value. Institutional investors are also accustomed to trading in regulated futures, which are not bothered by money laundering worries.

The CME move also suggests that bitcoin has become too large to be ignored, as the exchange in the recent past seemed to rule out crypto futures. Bitcoin is almost everything anyone talks about in brokerage and trading firms, which have suffered amid growing but unusually peaceful markets. If futures on the stock market took off, it would be almost impossible to catch up with any other stock exchange, such as CME, because scale and liquidity are important in derivatives markets.

“You can’t ignore the fact that this is becoming more and more a story that won’t go away,” Duffy said in an interview with CNBC. There are “major companies” that want access to bitcoins, and customers have “huge backlog of demand,” he said. Duffy also thinks that introducing institutional traders to the market could make bitcoin less volatile.

The Japanese countryside uses cryptocurrency to raise capital to revitalize municipalities

The Japanese village of Nishiawakura is exploring the idea of ​​holding an Initial Coin Offer (ICO) to raise capital to revitalize municipalities. This is a very new approach and they can ask for support from the national government or ask for private investment. Several ICOs have had serious problems, and many investors are skeptical that any new token will have value, especially if the ICO proves to be another joke or scam. Bitcoin was certainly not a joke.

FIRST OFFER OF MONEY – (ICO)

We didn’t mention ICO in the first issue of Crypto Trend, so let’s mention it now. Unlike an Initial Public Offering (IPO), where a company has an actual product or service for sale and wants you to buy stakes in their company, an ICO can be held by anyone who wants to launch a new Blockchain project with the intention of creating a new token on their chain. ICOs are not regulated, and several are totally false. A legitimate ICO, however, can raise a lot of money to fund a new Blockchain project and network. It is typical for an ICO to generate a high token price initially and then return to reality soon after. Since the ICO is relatively easy to maintain if you know the technology and have a few dollars, there were a lot of them, and today we have about 800 tokens in play. All these tokens have their own name, they are all cryptocurrencies, and apart from very well-known tokens, such as Bitcoin, Ethereum and Litecoin, they are called alt-coins. Currently, Crypto Trend does not recommend participating in the ICO, as the risks are extremely high.

As we said in issue 1, this market is currently the “Wild West” and we recommend caution. Some investors and early users have adopted large profits in this market space; however, there are many who have lost much or all. Governments are considering regulations because they want to know about each transaction in order to tax them all. They all have huge debts and are tied to cash.

So far, the cryptocurrency market has avoided many government and conventional banking financial problems and pitfalls, and Blockchain technology has the potential to solve many more problems.

A great feature of Bitcoin is that the originators chose the final number of coins that can ever be generated – 21 million – thus ensuring that this crypto coin will never be inflated. Governments can print as much money (fiat currency) as they want and inflate their currency to death.

Since the articles will delve into certain recommendations, however, make no mistake, early investment in this sector will only be for your most speculative capital, money you can afford to lose.

CRYPTO TREND will be your guide if and when you are ready to invest in this market space.

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Here’s why the dash of cryptocurrency puts Bitcoin in disgrace

Cryptocurrencies are currently in a rage.

Everywhere you see headlines with an impressive thousand percent gain for “coins” like bitcoin. But what gives them value? When have you ever used bitcoin?

It is true that this is not practical at the moment, primarily due to the time required to complete the transaction. But there are other coins that are emerging as viable candidates for the success of bitcoin as the cryptocurrency no. 1.

There is much to understand in the intricacies of cryptocurrencies, but this article is more about finding investment opportunities than explaining the science behind them.

A bubble in Bitcoin?

It is important to know the concept of “mining”. That is the very basis of cryptocurrency. This is how new bitcoins are created.

Simply put, a “miner” solves a complex mathematical problem using special software and as a result is rewarded with new bitcoins. The transaction is then stored in a blockchain, and these new bitcoins are officially in circulation.

As more bitcoins are in circulation, their mining becomes more complex, time consuming and less profitable. So, although about 80% of possible bitcoins are currently in circulation, the last one will not be mined until 2140.

As most people know by now, bitcoin has experienced a giant rally this year. In fact, it has increased by about 1,200% in the past year, which has made many people think it is in a bubble.

The total value of bitcoin in circulation now stands at over $ 150 billion. If it was a bitcoin company, it would be among the 50 largest in the United States.

Personally, I believe that the only reason bitcoin is so much more valuable than any other cryptocurrency is because it was the first one that broke into the mainstream. That is important though. At the very least, it gives other coin developers something to improve on.

The good thing is that, even if you think you missed the ship with bitcoins, there are a lot of other cryptocurrencies. Of course, some are scams, but others have real potential.

One of those that I think has a real, practical use is called Dash.

Dash: Digital Cash

First, Dash is ahead of the game in terms of convenience. Currently, bitcoin transactions take about 10 minutes to an hour on average. Dash is set up as the primary cryptocurrency that can be transferred immediately (in less than a second) between parties, which makes it much more convenient when it comes to buying things online or in a store.

One of the most attractive features of Dash is that 10% of newly minted coins are given to Dash DAO (decentralized autonomous organization). Simply put, DAO is Dash’s treasury. At the current price of more than $ 600 per coin, that’s $ 4 million a month that he can use.

It is important to know that no new coin has this kind of continuous funding. With this money Dash DAO can develop and market the currency.

Also, anyone can submit an idea for a project that will improve the value of the dash. Then, thousands of Dash programmers vote on the project. An example would be a partnership with stores to make Dash a viable transaction tool for their merchandise.

Of course, these developers make money from Dash, so anything that uses and promotes currency will be tempting.

This creates a circular effect, where the currency values ​​the price because it is better financed and sold, then the DAO makes more money and can place Dash even more.

Dash break

So far, Dash can be used in over 300 physical stores and over 100 websites to purchase goods or services. But the discovery for that could come from the marijuana industry.

Currently, banks are not allowed to have anything to do with marijuana transactions; everything has to be done in cash. Sellers cannot put money from the sale or into the bank.

Not only does this carry the risk of robbery, but these companies have to pay for the storage and transportation of cash. That adds up quickly.

The possibility of using Dash would be great for these suppliers. That would also mean great things for the price of Dash.

The good news is that it has already started to progress. In April, Dash partnered with a digital payment system called Alt Thirty Six, which has partnerships with some of the country’s leading dispensary management companies.

These software companies track transactions for hundreds of dispensaries and delivery services. This means that Dash users already have hundreds of ways to use the currency.

Since Dash officially became a payment method on Alt Thirty Six on October 11, its price has risen 118%. It’s only a month and a half.

Just the beginning

With a market capitalization of just $ 4.8 billion compared to bitcoin’s $ 156 billion, I believe Dash still has plenty of room to climb forward.

The marijuana industry is just the beginning for Dash, but it’s great. In 2016, legal sales were about $ 7 billion. It is still estimated that $ 46 billion was sold on the black market.

And as more and more stores open and marijuana becomes legal in more states, that legal figure is expected to be $ 23 billion by 2021 and $ 50 billion by 2026.

Again, this is just the beginning for Dash. Its unique feature of direct transactions makes it a viable alternative to cash, giving it an advantage over other cryptocurrencies like bitcoin.

What is an ICO in cryptocurrency?

ICO stands for Initial Coin Offering. When launching a new cryptocurrency or crypto-token, developers offer investors a limited number of units in exchange for other major cryptocurrencies, such as Bitcoin or Ethereum.

ICOs are amazing tools for the rapid rain of development funds to support new cryptocurrencies. Tokens offered during the ICO can be sold and traded on cryptocurrency exchanges, provided there is sufficient demand for them.

Ethereum ICO is one of the most notable successes, and the popularity of initial coin offerings is growing as we talk.

A brief history of the ICO

Ripple is probably the first cryptocurrency to be distributed through ICOs. In early 2013, Ripple Labs began developing the Ripple payment system and generated approximately 100 billion XRP tokens. They were sold through the ICO to fund the development of the Ripple platform.

Mastercoin is another cryptocurrency that sold several million tokens for Bitcoin during the ICO, also in 2013. Mastercoin aimed to tokenize Bitcoin transactions and execute smart contracts by creating a new layer on top of the existing Bitcoin code.

Of course, there are other cryptocurrencies that have been successfully funded through the ICO. Back in 2016, Lisk raised about $ 5 million during their initial coin offering.

Still, the Ethereum ICO held in 2014 is probably the most prominent so far. During their ICO, the Ethereum Foundation sold ETH for 0.0005 Bitcoins, raising nearly $ 20 million. Leveraging the power of smart contracts, Ethereum has paved the way for the next generation of initial coin offerings.

ICO Ethereum, a recipe for success

Ethereum’s smart contract system has implemented the ERC20 protocol standard that sets out the basic rules for creating other matched tokens that can be transported on Ethereum’s blockchain. This allowed others to create their own tokens, in line with the ERC20 standard, which can be traded for ETH directly on Ethereum’s network.

DAO is a notable example of the successful use of Ethereum smart contracts. The investment company raised $ 100 million in ETH, and investors received DAO tokens in return that allow them to participate in platform management. Unfortunately, DAO failed after being hacked.

Ethereum ICO and their ERC20 protocol highlighted the latest generation of blockchain-based crowdfunding projects through Initial Coin Offerings.

It also made it easier to invest in other ERC20 tokens. Simply transfer ETH, paste the contract into your wallet and new tokens will appear in your account so you can use them as you wish.

Obviously, not all cryptocurrencies have ERC20 tokens living on Ethereum’s network, but almost any new blockchain-based project can trigger an initial coin offering.

The rule of law of the ICO

As for the legality of the ICO, there’s a bit of a jungle out there. In theory, tokens are sold as digital goods, not as financial assets. Most jurisdictions have not yet regulated ICOs, so assuming the founders have a seasonal lawyer on their team, the entire process should be paperless.

Nevertheless, some jurisdictions have become aware of ICOs and are already working on their regulation in a similar way as the sale of shares and securities.

Back in December 2017, the US Securities and Exchange Commission (SEC) classified ICO tokens as securities. In other words, the SEC was preparing to stop ICOs that they believe are misleading investors.

There are cases where the token is just a service token. This means that the owner can easily use it to access a particular network or protocol, in which case it may not be defined as financial security. Nevertheless, proprietary tokens whose purpose is to assess value are quite close to the concept of security. Truth be told, most symbol purchases are made specifically for investment purposes.

Despite the efforts of regulators, ICOs remain in the gray legal area and until a clearer set of regulations is imposed, entrepreneurs will try to benefit from initial coin offerings.

It is also worth mentioning that when regulations reach their final form, the costs and efforts required to comply can make ICOs less attractive than conventional financing options.

Closing remarks

For now, ICOs remain an amazing way to fund new crypto-related projects, and there have been more successful ones with even more.

However, keep in mind that everyone today runs ICOs and many of these projects are fraudulent or lack the solid foundations they need to thrive and return on investment. For this reason, you should definitely thoroughly research and research the team and background of any crypto project you may want to invest in. There are several websites that list ICOs, just search on Google and you will find some options.

International regulations for cryptocurrencies will create win-win situations

Background

The initial offering of coins on blockchain platforms has colored the world red for technology startups around the world. A decentralized network that can assign tokens to users who support the idea with money, revolutionizes and rewards.

It turned out that Bitcoin, which turned a profit, was a “property” for early investors, giving multiple returns in 2017. Investors and cryptocurrency exchanges around the world took the opportunity by writing enormous returns for themselves that led to a rise in multiple online exchanges. Other cryptocurrencies like Ethereum, Ripple and other ICOs promised even better results. (Ethereum grew by more than 88 times in 2017!)

Although the ICOs put millions of dollars in the hands of startups within days, the governing governments initially decided to keep an eye on the fastest development of fintech ever that had the potential to raise millions of dollars in a very short period of time.

Countries around the world are considering regulating cryptocurrencies

But regulators became wary as the technology and its underlying effects gained popularity as ICOs began to think of multibillion-dollar funds – and too much on proposed plans written on whiteboards.

In late 2017, governments around the world took the opportunity to intervene. Although China has completely banned cryptocurrencies, the SEC (Securities and Exchange Commission) in the U.S. has highlighted the risks posed by vulnerable investors and suggested that they be treated as securities.

A recent warning statement from SEC President Jay Clayton released in December warned investors by mentioning,


“Please also recognize that these markets extend across national borders and that significant trade can take place on systems and platforms outside the United States. Your invested funds can travel quickly abroad without your knowledge. As a result, risks may increase, including risk that market regulators, such as the SEC, may not be able to effectively monitor bad actors or recover funds. “

This was followed by India’s concerns, in which Finance Minister Arun Jaitley said in February that India does not recognize cryptocurrencies.

A circular sent by the Central Bank of India to other banks on April 6, 2018, asked banks to sever ties with companies and stock exchanges involved in trading or cryptocurrency transactions.

In Britain, the FCA (Financial Conduct Authority) announced in March that it had formed a working group on cryptocurrencies and would seek help from the Bank of England to regulate the cryptocurrency sector.

Different laws, tax structures between states

Cryptocurrencies are mostly coins or tokens launched on a cryptographic network and can be traded globally. Although cryptocurrencies have more or less the same value around the world, countries with different laws and regulations may bring different returns for investors who could be nationals of different countries.

Different laws for investors from different countries would make the return budget a tedious and cumbersome exercise.

This would involve investing time, resources and strategies that cause unnecessary prolongation of the process.

The solution

Instead of many countries framing different laws for global cryptocurrencies, a single global regulatory body with laws that apply across borders should be established. Such a move would play an important role in improving legal cryptocurrency trading around the world.

Global goal organizations such as ITA (United Nations), World Trade Organization (WTO), World Economic Forum (WEF), International Trade Organization (ITO) already play an important role in uniting the world on different fronts.

Cryptocurrencies originated with the basic idea of ​​transferring funds around the world. They have more or less similar value on exchanges, except for negligible arbitration.

A global regulatory body to regulate cryptocurrencies around the world is a need of the hour and could set global rules to regulate the latest way of financing ideas. Currently, every country is trying to regulate virtual currencies through laws that are in the process of being drafted.

If economic superpowers can reach consensus with other countries by introducing a regulatory body with laws that know no national borders, then this would be one of the biggest shifts in designing a crypto-friendly world and encouraging the use of one of the most transparent fintech systems ever – blockchain.

A universal regulation consisting of parts relating to cryptocurrency trading, refunds, taxes, penalties, KYC procedures, exchange laws and penalties for illegal hacking can bring us the following advantages.

  1. This can make it easier to calculate profits for investors around the world, as there would be no difference in net profits due to uniform tax structures

  2. Countries around the world may agree to share a portion of profits as taxes. Therefore, the share of countries in taxes collected would be uniform throughout the world.

  3. It could save time involved in constituting a number of committees, drafting legislation followed by debates in the legislative arena (such as the parliament in India and the US Senate).

  4. One should not go through the harsh tax laws of every state. Especially those involved in multinational trade.

  5. Even companies offering tokens or ICOs would abide by the aforementioned ‘international law’. Therefore, calculating post-tax revenue would be a cake for companies

  6. A global structure would require more companies to come up with better ideas, thus increasing employment opportunities around the world.

  7. The law can be assisted by an international supervisory authority or global currency regulator, which may have the authority to blacklist an ICO bid that does not comply with the norm.

Not all advantages are when it comes to a law that would govern cryptocurrencies around the world. There are certain shortcomings also.

It may take some time for world financial leaders to come together and make a law. Discussions and their consensus building could be challenging

  1. Countries or economies that provide non-taxable structures may not agree to accept a law that provides for a universal tax policy

  2. A global oversight body or regulatory interference in monitoring ICO-related regulatory developments may not get along well with some countries

  3. Universal law can result in the division of the world into factions. Countries that do not support cryptocurrencies like China may not be a part of it.

  4. The law may be the idea of ​​economically strong nations that could design it in accordance with their best interests.

  5. This law would be centralized with a global regulatory body, as opposed to cryptocurrencies which are decentralized by nature.

Conclusion

The world is getting better together. Whether it’s creating a peaceful world after World War II or coming together to achieve better trade laws and treaties.

The International Trade Organization (ITO), the World Trade Organization, and the World Economic Forum have some of the best brains that define the global economy.

They can come together and be part of the body that will define the economic prosperity of the world. They would help develop global norms on cryptocurrencies and perhaps be part of a regulatory body that would better be a guide and beacon for thousands of ICOs around the world. At first this may take time, but it would make things easier.

How to make your own cryptocurrency in 4 easy steps

Ok, so cryptocurrency this, bitcoin that!

There was enough noise around the boom created by virtual currencies that the internet was overloaded with information on how you could make more money by investing in those currencies. But have you ever thought how cool it would be if you could create your own cryptocurrency?

I never thought about it, did I? It’s time to think about it because in this post we’ll provide you with a four-step guide to creating your own cryptocurrency. Read the post and then see if you can do it yourself or not!

Step 1 – Community

No, you don’t have to build a community like the one when you plan to rule social media. Here the game is a little different. You need to find a community of people that you think would buy your currency.

Once you identify the community, it becomes easier for you to meet their needs and therefore you can work on building a stable cryptocurrency rather than go with what you want to achieve.

Remember, you’re not here to be a part of the spectator’s sport – you’re in it to win it. And having a community of people who would like to invest in your currency is the best way to do it!

Step 2 – Code

Another important step is coding. You don’t necessarily have to be a lead developer to create your own cryptocurrency. There is a lot of open source available that you can use.

You can even hire professionals in advance who can do the work for you. But when coding, remember one thing – open copying won’t get you anywhere.

You need to bring some uniqueness to your currency to distinguish it from one that already exists. It must be innovative enough to create a ripple in the market. That’s why just copying the code isn’t enough to be on top of the cryptocurrency game.

Step 3 – Miners

The third and most important step in the process is to board a few miners who will actually dig up your cryptocurrency.

This means that you need to have a certain group of people who will be connected to you who can really spread the word about your currency in the market. You need to have people who can raise awareness about your currency.

This will give you an advantage. And, as they say – a good start is half over; miners can finally lay the foundations for a successful journey for your cryptocurrency in ever-increasing competition.

Step 4 – Marketing

The last thing you need to do here as part of the deal is connect with traders who will eventually trade the virtual coins you have built.

In simpler words, you have to place these coins on the battlefield where real people would actually be interested in investing in them. And, it is by no means an easy feat.

You need to gain their trust by letting them know that you have something worth offering.

How can you start with that? Initially, the best way to place coins is to identify the target audience who knows what a cryptocurrency is.

After all, there is no point in trying to market your stuff to people who don’t even know what a cryptocurrency is.

Conclusion

So you can see that building a successful cryptocurrency is more focused on being aware of market trends and less on being a hardcore technician or avant-garde encoder.

If you have that awareness in you, it’s time to make a boom while the sun shines in a niche of cryptocurrencies. Go ahead and plan to build your own cryptocurrency by following these simple steps and see how it turns out for you!